Overstock.com, Inc. (NASDAQ:OSTK) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(b) On April 2, 2018, Robert P. Hughes, Senior Vice President, Finance and Risk Management of Overstock.com, Inc. (the “Company”), notified the Company that he is resigning as the Company’s principal financial officer and principal accounting officer in order to become the chief financial officer of the Company’s indirect 50% owned subsidiary, DeSoto Inc., effective April 16, 2018.
(c) On April 2, 2018, the Company appointed Gregory J. Iverson as its new Chief Financial Officer (principal financial officer and principal accounting officer), effective April 16, 2018. Mr. Iverson, 42, was previously employed by Apollo Education Group, Inc., a private-sector education company, in a variety of finance roles from April 2007 through March 2018, most recently serving as Senior Vice President and Chief Financial Officer since October 2015.
Mr. Iverson will have an annual salary of $400,000 and is expected to receive a new hire equity grant consisting of 20,000 restricted stock units, subject to the approval of the Company’s board of directors or the compensation committee of the board, and subject to vesting over a three-year period in accordance with the terms of the Company’s 2005 equity incentive plan and the Company’s normal practices. Mr. Iverson will be eligible to participate in the compensation and benefit programs generally available to the Company’s senior officers. His employment has no specified term and will be on an at-will basis.
Item 9.01Financial Statements and Exhibits
The following exhibit is furnished with this report:
Press release issued April 6, 2018
This Current Report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are therefore entitled to the protection of the safe harbor provisions of these laws. These forward-looking statements involve risks and uncertainties, and relate to future events or our future financial or operating performance. The forward-looking statements include all statements other than statements of historical fact.
OVERSTOCK.COM, INC ExhibitEX-99.1 2 pressrelease.htm EXHIBIT 99.1 Exhibit Exhibit 99.1Media Contact:[email protected] Contact:[email protected] Names Gregory J. Iverson as Chief Financial OfficerSALT LAKE CITY - Apr. 6,…To view the full exhibit click